Contract Unit 5,000 bushels
Price Quotation U.S. dollars and cents per bushel
Trading Hours CME Globex: Sunday - Friday, 7:00 p.m. - 7:45 a.m. CT and
Monday - Friday, 8:30 a.m. - 1:20 p.m. CT

TAS: Sunday - Friday 7:00 p.m. - 7:45 a.m. and
Monday - Friday 8:30 a.m. - 1:15 p.m. CT
CME ClearPort: Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday from 5:45 p.m. – 6:00 p.m. CT
Minimum Price Fluctuation 0.0025 per bushel = $12.50

TAS: Zero or +/- 4 ticks in the minimum tick increment of the outright
Product Code CME Globex: KE
CME ClearPort: KW
Clearing: KW
Listed Contracts 15 monthly contracts of Mar, May, Jul, Sep, Dec
Settlement Method Deliverable
Termination Of Trading Trading terminates on business day prior the 15th day of the contract month.
Trade At Marker Or Trade At Settlement Rules Trading at Settlement (TAS) is subject to the requirements of Rule 524.A. TAS trades off a "Base Price" of zero (equal to the daily settlement price) to create a differential versus the daily settlement price in the underlying futures contract month. The TAS clearing price equals the daily settlement price of the underlying futures contract month plus or minus the TAS transaction price.

TAS Table
Settlement Procedures KC HR Wheat Settlement Procedures
Position Limits CBOT Position Limits
Exchange Rulebook CBOT 14H
Block Minimum Block Minimum Thresholds
Price Limit Or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing
Delivery Procedure The maximum load-out fee for regular elevators on grain delivered on futures contracts is established at 8 cents per bushel. The maximum storage and insurance charge for regular elevators on grain delivered on futures contracts is established at $.00197 per bushel per day from December 1 to June 30, and $.00296 per bushel per day from July 1 to November 30.
Grade And Quality No. 2 at contract price with a maximum of 10 IDK per 100 grams; No. 1 at a 1 1/2-cent premium.

Deliverable grades of HRW shall contain a minimum 11% protein level. However, protein levels of less than 11%, but equal to or greater than 10.5% are deliverable at a ten cent (10¢) discount to contract price. Protein levels of less than 10.5% are not deliverable.

When warehouse receipts are surrendered to the issuer for load-out, the taker of delivery shall have the option to, at the taker’s expense, request in the written load-out instructions that the wheat contain no more than 2 ppm of deoxynivalenol (vomitoxin). A determination of the level of vomitoxin shall be made at the point of origin by the Federal Grain Inspection Service or such other third party inspection service mutually agreeable to the maker and taker of delivery. A determination of the level of vomitoxin shall be based on the average test results of the wheat loaded in a single day from a single warehouse for each taker of delivery.